Cyprus Consumer Association Questions Current Fuel Prices and Effectiveness of Subsidies
The Cyprus Consumer Association has expressed doubts about whether current retail fuel prices in Cyprus are justified, citing strong indications that something is amiss. Mario Drousiotis, the association's president, highlighted significant price increases since March, including a nearly 50% rise in heating oil prices, which now cost households approximately €488 more for a 1,000-liter tank refill compared to early March.
Drousiotis questioned whether the conflict in the Middle East sufficiently explains the high prices and criticized the effectiveness of fuel subsidies introduced in April. According to the association's data, many petrol stations did not fully pass the subsidy benefits to consumers, with some even raising their prices following competitor increases. The Consumer Association has called for greater transparency and better monitoring by the authorities, as current oversight seems inadequate.
The association also urged the government to take measures ahead of the upcoming heating season to protect consumers, stressing the need for clear evidence that fuel prices remain reasonable. Drousiotis concluded by questioning whether the authorities lack the capacity or the willingness to enforce effective price controls.
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